Hello Everyone,
I am new here and had a query.
I want to start off a partnership firm with a friend of mine and we are going to provide training for make up artists/individuals and was wondering if I need a service tax number ?
A friend of mine told me that I can get a partnership deed registered,open a bank account, apply for a PAN number for the company and start collecting the course fee and start the classes within a month or so.
Is that correct ?
Thanks in advance.
Dear sir
If your Gross turnover Does not Exceed More than 10 Lakhs No need to Register once if your turnover exceeds or crosses 10 lakhs you should Compulsorly Register for Service Tax Payment.
Once you get entered into Partnership your firm should have PAN and Partnership Deed there is No Limit for This you should Compulsorly take the PAN
This is classifiable under commercial coaching/trainig liable to service tax. Basic exemption of Rs.10 lakhs is available. Take registration once you cross Rs.9 lakhs.
CAclubindia
